How to minimise Inheritance Tax bills

2022

minimise Inheritance Tax bills

How to minimise Inheritance Tax bills

2022, Latest News /

As property prices soar, more and more people are being drawn into paying Inheritance Tax (IHT). Why? Chancellor Rishi Sunak froze the nil rate thresholds for paying the tax at £325,000 until 2026, while the value of homes has rocketed, potentially drawing people into paying the tax. There are some exceptions, but generally, people are […]

How to minimise Inheritance Tax bills Read More »

As property prices soar, more and more people are being drawn into paying Inheritance Tax (IHT). Why? Chancellor Rishi Sunak froze the nil rate thresholds for paying the tax at £325,000 until 2026, while the value of homes has rocketed, potentially drawing people into paying the tax. There are some exceptions, but generally, people are

‘Umbrella’ contracts firm loses £11m tribunal case against HMRC

2022, Latest News /

A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000 temporary workers in the UK are thought to be employed by umbrella companies, used by recruitment agencies and companies to cut temporary payroll costs. Exchequer Solutions Limited (ESL) is

‘Umbrella’ contracts firm loses £11m tribunal case against HMRC Read More »

A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000 temporary workers in the UK are thought to be employed by umbrella companies, used by recruitment agencies and companies to cut temporary payroll costs. Exchequer Solutions Limited (ESL) is

Britons lose millions in penalty charges as they cash in LISAs

2022, Latest News /

Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs (HMRC), a record 77,500 LISA savers were issued over £33 million worth of early withdrawal charges in 2021/22. Early withdrawal from LISAs attracts a 25

Britons lose millions in penalty charges as they cash in LISAs Read More »

Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs (HMRC), a record 77,500 LISA savers were issued over £33 million worth of early withdrawal charges in 2021/22. Early withdrawal from LISAs attracts a 25

UK IHT (Inheritance Tax) and planning strategies recording

2022, Inheritance, Latest News, Property, Tax, Tim Cook /

Tax Partner Tim Cook (Wilder Coe) and Zahra Kanani (Partner, Wills and Tax planning at Thackray Williams) hosted this in-depth seminar for the International Estate Planning Council on 23rd June 2022. Focusing on cross-border estates, business assets and real estate, they talk through Inheritance Tax and planning strategies for UK and non-UK domiciled individuals. Tim

UK IHT (Inheritance Tax) and planning strategies recording Read More »

Tax Partner Tim Cook (Wilder Coe) and Zahra Kanani (Partner, Wills and Tax planning at Thackray Williams) hosted this in-depth seminar for the International Estate Planning Council on 23rd June 2022. Focusing on cross-border estates, business assets and real estate, they talk through Inheritance Tax and planning strategies for UK and non-UK domiciled individuals. Tim

Charities Landscape 2022 - A summary overview . 4 wooden building blocks with number 2022 on against a blue background

Charities Landscape 2022 – A summary overview

2022, Charities, Charlotte Hawes, Latest News /

The last couple of years have been challenging ones for charities. Covid-19 and the cost of living crisis have all impacted the charitable sector. The Charitable Aid Foundation and the National Council for Voluntary Organisations have recently issued their trend assessments for the sector, and here we’ll take a look at the key issues facing

Charities Landscape 2022 – A summary overview Read More »

The last couple of years have been challenging ones for charities. Covid-19 and the cost of living crisis have all impacted the charitable sector. The Charitable Aid Foundation and the National Council for Voluntary Organisations have recently issued their trend assessments for the sector, and here we’ll take a look at the key issues facing

How to value your business during divorce - a couple holding a piggy bank fighting over asset

How to value your business during divorce proceedings

2022, Bee Lean Chew, Forensic accounting, Latest News, Valuations /

The value of any business can easily become one of the most contentious issues during any divorce proceedings. Valuing a business can be a lengthy and costly process. Here we’ll take a look at how divorce business valuations are commonly achieved, and what happens in the event of a dispute. What does a divorce court

How to value your business during divorce proceedings Read More »

The value of any business can easily become one of the most contentious issues during any divorce proceedings. Valuing a business can be a lengthy and costly process. Here we’ll take a look at how divorce business valuations are commonly achieved, and what happens in the event of a dispute. What does a divorce court

Step :UP Social 19 July in text with cocktails in background

Step: UP socials are back! Register for free ?

2022, Caryl King, Latest News, Step: UP /

Are you taking a STEP forward in your career? Do you want to Unite with other Professionals? Our Step: UP ethos focuses on building strong and lasting relationships. Not only with our clients but supporting our team members’ professional growth. As staff progress into management roles, a step on their development paths involves nurturing their

Step: UP socials are back! Register for free ? Read More »

Are you taking a STEP forward in your career? Do you want to Unite with other Professionals? Our Step: UP ethos focuses on building strong and lasting relationships. Not only with our clients but supporting our team members’ professional growth. As staff progress into management roles, a step on their development paths involves nurturing their

SMEs can obtain support

How hard-pressed SMEs can obtain support

2022, Business News, Latest News /

Small businesses are the lifeblood of the UK economy, but with rapid inflation and other economic headwinds making trade difficult, they can struggle to access support. There is a wide range of important tax reliefs available to SMEs, which could provide some much-needed financial assistance. Employment Allowance claims This scheme allows eligible businesses to reduce

How hard-pressed SMEs can obtain support Read More »

Small businesses are the lifeblood of the UK economy, but with rapid inflation and other economic headwinds making trade difficult, they can struggle to access support. There is a wide range of important tax reliefs available to SMEs, which could provide some much-needed financial assistance. Employment Allowance claims This scheme allows eligible businesses to reduce

VAT penalties

Prepare for changes to VAT penalties and VAT interest charges

2022, Business News, Latest News /

Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023, new penalties will replace the default surcharge for returns submitted or paid late. Any VAT returns received late will also be subject to late submission

Prepare for changes to VAT penalties and VAT interest charges Read More »

Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023, new penalties will replace the default surcharge for returns submitted or paid late. Any VAT returns received late will also be subject to late submission

Penalties for Coronavirus Job Retention Scheme misuse

Penalties for Coronavirus Job Retention Scheme misuse

2022, Business News, Latest News /

New legislation allows HM Revenue & Customs (HMRC) to recover Coronavirus Job Retention Scheme (CJRS) grants that have been overclaimed. Those who fall foul of the legislation could face interest charges, financial penalties and even be named and shamed. If a business overclaimed a CJRS grant and has not repaid it, it needs to inform the tax

Penalties for Coronavirus Job Retention Scheme misuse Read More »

New legislation allows HM Revenue & Customs (HMRC) to recover Coronavirus Job Retention Scheme (CJRS) grants that have been overclaimed. Those who fall foul of the legislation could face interest charges, financial penalties and even be named and shamed. If a business overclaimed a CJRS grant and has not repaid it, it needs to inform the tax